As growth in Western economies slows, investors searching for attractive stocks should look to companies that sell to more resilient emerging markets, James Bevan, chief investment officer at CCLA Investment Management, told CNBC Europe Tuesday.
"I would say that there are still plenty of parts of the world economy that are firing on all cylinders, therefore it's not all gloom and doom by any means," Bevan said on "Power Lunch Europe." "I would say that there are some very clear and direct emerging-market plays who I think are still very well placed."
Taiwan Semiconductor has the advantage of good positioning for emerging-market sales and, unlike many other Asian companies, has a high dividend yield, Bevan said.
Other strong companies that will continue to see strong sales in emerging markets include French food group Danone, consumer products company Colgate-Palmolive and drug maker Pfizer, he added.